NOW Is The Time To Invest In MDU Managed Wi-Fi
As the pandemic has changed the nature of work and everyday life, demands on ISPs have skyrocketed. For the past two decades, the trend towards remote work and a heavy reliance on Wi-Fi networks has only accelerated. At a time of unprecedented disruption, businesses must now make the decisions to adapt or die. The world has planted a foot firmly in the digital realm, and property owners have a massive opportunity to generate revenue with property managed Wi-Fi.
This article will help you decide whether or not managed MDU Wi-Fi is right for you and how to start taking advantage of the revenue revolution that is already here.
The Top Three Reasons To Invest In MDU Managed Wi-Fi
- Increase Recurring Revenue and Profit
Most MDU property owners leave tenants on their own when it comes to providing internet access. By providing easy access to smart apartment, business and security services, owners can capitalize on a not-so-novel, but very timely revenue stream. Traditional agreements between internet service providers and property owners usually result in a one-time bonus. Property wide Wi-Fi providers like Wanaport let properties earn recurring monthly revenue from MDU Wi-Fi subscriptions that contribute significantly to operating profits.
The number of services offered by turnkey MDU wireless providers like Wanaport gives owners the ability to offer a broad catalog of flexible services packages at competitive prices. The boutique customer support and technical solutions offered pale in comparison to what large corporations can offer individual customers.
In a study by the firm J Turner Research, 64% of apartment renters say they would move or not renew their lease if they were unhappy with their Internet service in their apartment or rental unit. Whether for multi-family communities, college or corporate campuses, the business services offered by the new economy of IoT (the Internet of Things) provides owners with another revenue and cost saving opportunity.
Increased profits, superior technical support combined with easy setup for tenants means MDU Wi-Fi delivers on its promise of an exceptional service experience for owners.
2. Future Proof Your Property
An investment in MDU Managed Wi-Fi is an investment in the future. Cloud services can unify data, devices and management support in a single smart software platform outfitted with world-class security and privacy. By creating an infrastructure that will reinforce a hospitality mindset, you can stay flexible as the digital landscape inevitably changes.
Residential Wi-Fi access points are not usually equipped with additional security features and customers often don’t utilize the security features that ARE available to them. An MDU wireless solution provider like Wanaport can provide a boutique, highly secure system with automated updates. As the digital world continues to evolve, it’s critical that your infrastructure is protected against local and cloud-based cybersecurity attacks. Automated software monitoring, third-party emergency alert systems, keyless entry, and home surveillance controlled remotely can provide an additional layer of security for tenants.
When you’re awash in data, you can optimize all aspects of your operation. Property managers have long benefited from optimizing their utilities with digital monitoring systems. The ability to monitor and improve amenity spaces is a critical component of capturing unexpected revenue streams from customers, tenants, and clients.
The same can be done with the bandwidth packages offered to individual tenants within multifamily units. One household may be filled with streamers and work-from-home millennials, another with a childless couple in their 60s. Both may have vastly different data needs. Service providers like Wanaport can provide peace of mind to both property owners and tenants that their data is private and secure. Whether you need to maintain data privacy between neighbors or overcome signal-blocking building materials, a technically experienced MDU Wi-Fi solutions provider can meet these challenges.
3. The Fourth Utility That Keeps Tenants Happy
When you create a seamless wireless experience for your tenants, they will be happy. They will stay happy. And they will let others know what a great experience they are having with their living situation. As an MDU owner who provides community-wide Wi-Fi, you will have removed a major headache that all digital natives deal with, limiting the need for additional cables and insane appointment windows set by traditional ISPs. Nobody wants to wait around in a four-hour appointment window just to set up a piece of equipment a tech-savvy tenant could manage with their own private network.
When you enlist an experienced MDU Wi-Fi provider, you give tenants the option to manage their heat, Wi-Fi, and even rent payments all from their phone. An added bonus is that you’ll attract new tenants interested in premium amenities and a higher caliber of service from property owners. Many are digital natives who believe in the power of automation and pop-notifications. Smart notifications during outages, natural disasters, or security events can deepen the sense of connection between a tenant and property owners. Happy tenants will often stay in their lease agreement longer when satisfied with service.
This pandemic (and the past 30 years) has shown that data is the new oil, the new fourth utility. A seamless property-wide Wi-Fi experience on a large campus or MDU is like proper plumbing and wiring. When done right, nobody complains and their expectations of a ‘public utility’ are met.
Set Up and Offer Property Wide Wi-Fi In Five Steps
- Survey Your Tenants
Easily set up a Google Form to get a sense of whether or not your tenants are interested in property managed Wi-Fi. After they have their say, let them know that you will be offering the service anyway! This will give you a better understanding of the needs of your tenants while giving them a heads up that you will be offering this service in the future.
2. Identify Your Worst Case Scenarios/Max Demand Wireless Scenario
It’s crucial to map out all worst case scenarios for this new fourth utility. Climate change, political unrest, and foreign hackers all threaten to disrupt service to tenants. The lack of digital consumer rights in this country has also left most consumers vulnerable to data theft. ISPs do not hold themselves responsible for any individual cases of data theft. Property managed Wi-Fi can reduce the risk of data breaches during a service outage and can keep owners and tenants up to date on the status of service.
3. Find The Right Wi-Fi Provider
How much faith do you have in your ISP? Are they willing to go the extra mile to craft a boutique solution for you? More often than not, the answer is no. Industry leaders like Wanaport can conduct site surveys and design easy-to-use MDU networks. They take care of the right equipment, manage bandwidth and other technical issues and maintain digital security. They also work with you to ensure you are providing the latest technology to your tenants and are staying ahead of your competition.
4. Identify Potential New Profit Streams
After reaching an agreement, a good service provider will work with you to identify different services which may be appropriate for your renters. The goal is to create recurring revenue and a deeper relationship with your tenants. The best way to achieve this goal is for the property to directly invest in Wi-Fi infrastructure and own the resident relationship to earn the highest long-term ROI. Wi-Fi is no longer a trend. It’s an infrastructure improvement that pays for itself.
5. Invest, Build and Market Services
You did your homework and linked up with a service provider that is focused on your clients, dedicated to your growth, and interested in smart MDU solutions. You have worked with your new provider to identify revenue streams, security weaknesses, and utility optimization opportunities on your property. You invested in the infrastructure directly and can expect a return on investment and incremental profits. Now, spread the news amongst your tenants. Let them know you are here to provide them with a seamless Wi-Fi experience at home while better connecting them to their community.
In our next post, we will discuss Wanaport’s leadership in this technology space and discuss the importance of IoT networking.